XRP (CRYPTO: XRP) is up 1% to $2.40 on Thursday, clinging to a critical support zone as technical and on-chain signals warn of a possible deeper correction if buyers fail to defend current levels.
XRP Price Prediction: Charts Flash Warning As $2.40 Support Gets Tested
XRP Price Action (Source: TradingView)
The daily chart shows the XRP price pinned between converging pressure zones.
The token sits directly atop its long-term ascending trendline, while a descending triangle pattern continues to compress price action.
Immediate resistance aligns with the 20-day and 50-day EMAs at $2.53 and $2.70, with the 100-day EMA near $2.74 reinforcing a ceiling.
A break below the $2.35–$2.40 region would mark structural failure, opening a potential slide toward $1.70–$1.80 — roughly a 25–30% drop from current prices.
XRP Outflows Signal Trouble As Traders Pull Millions From Exchanges
XRP On-Chain Flows (Source: Coinglass)
Exchange data from Coinglass highlights a steady pattern of capital flight.
On Oct. 23, XRP recorded $16.26 million in net outflows, extending a multi-week trend dominated by selling.
Despite a brief rebound from $2.09 earlier in the month, on-chain flows suggest limited institutional or whale accumulation.
Historically, periods of sustained outflows paired with EMA rejections have preceded sharper drawdowns across major cryptocurrencies.
Can Bulls Defend $2.40 Or Will $1.60 Be Next?
XRP's immediate battle lies between $2.36–$2.40 support and $2.74–$2.90 resistance.
A decisive daily close above $2.74 could flip sentiment positive, with targets at $3.00 and $3.20.
However, failure to maintain $2.40 may trigger a breakdown toward $2.10, and ultimately $1.70, where prior accumulation and psychological demand intersect.
The setup remains fragile as price compresses under declining momentum.
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